O impacto de indicadores financeiros sobre fontes de receitas: uma análise de 19 clubes de futebol brasileiros entre 2018 e 2021

Abstract

Soccer, the sport known as "national passion" is becoming a market that moves hundreds of millions of reais among national clubs, especially in the national football elite, the Series A of the Brazilian championship. Faced with this scenario we perceive a "reversal" of roles between the main clubs, with traditional teams playing the second division and teams considered "small" participating in international competitions. In this bias, the financial management of the teams is becoming a recurring issue in the football environment, given the rise and dominance of, mainly, Flamengo and Palmeiras. This study sought to analyze the existence of a possible relationship between sports performance, represented by the proxy of awards, and financial performance, represented by some financial indicators, of 19 clubs that played in the main division of Brazilian football in the period between 2018 and 2021. Through a fixed effects model, it is concluded that the only indicators that showed statistically significant effect were Financial Leverage and ROI (Return on Investiment).